n) Provisions, Contingent Assets and Contingent Liabilities:
loans portfolios are classified as standard, sub-standard, doubtful and loss assets as follows:
A disclosure is made for a contingent liability when there is a:
• Possible obligation, the existence of which will be confirmed by the occurrence /non¬
occurrence of one or more uncertain events, not fully within the control of the
company;
• Present obligation, where it is not probable that an outflow of resources embodying
economic benefits will be required to settle the obligation;
• Present obligation, where a reliable estimate of the amount of the obligation cannot
be made.
Contingent assets are neither recognized nor disclosed except when realisation of income is
virtually certain, related asset is disclosed.
NOTE NO. 18 - OTHER DISCLOSURES
(1) Previous year figures have been re-grouped, re-arranged and reclassified wherever
considered necessary. Amounts and other disclosures for the preceding year are
included as an integral part of the current year financial statements and are to be read
in relation to the amounts and other disclosures relating to the current year.
(4) The Company has not received information from vendors regarding their status under
“The Micro Small and Medium Enterprises Development Act, 2006” and hence
disclosure related to amounts unpaid as at the year-end together with interest
paid/payable under this Act has not been given.
(5) The Company has recognized impairment allowance on Loans as required by IndAS
109. The comparison between provisions required under IRACP and impairment
allowances made under Ind AS 109 has been provided as below which is required by
Reserved Bank of India under Notification no. RBI/2019-20/170 dated 13 March 2020:
(6) There are no litigations pending against the company except with the Commissioner of
Income Tax (Appeals) in relation to income tax demand of Rs. 8.77 Lakhs for the
assessment year 2012-13.
(7) There is no loan given or outstanding to Directors, Senior officers and relatives of
Directors.
(8) Related Party Disclosure (as identified by the management):
In accordance with the requirements of Indian Accounting Standard (IND AS - 24)
“Related Party Disclosures” the names of the related party where control exists /able to
exercise significant influence along with the aggregate transactions and year end
balances with them as identified and certified by the management.
For NVM & Co. For and on behalf of the Board of Directors of
Chartered Accountants Ramsons Projects Limited
FRN: 012974N T
----1(2(Chartered \5>]\ ?,___ V «
CA SACHIN (Yogesh Kumar Sachdeva) (Sundeep Kalsi)
Partner : - Managing Director Director
Membership No. 537682 DIN: 00171917 DIN: 01493597
(Sushma) (CS Ashwarya
Maheshwari)
Chief Financial Officer Company Secretaiy
PAN: ADKPJ1880C M. No. ACS71660
Date: 22-May-2025
Place: Gurugram
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